BUZZ-Logan Ridge Finance rises on merger agreement with Portman Ridge Finance

Reuters
30 Jan
BUZZ-Logan Ridge Finance rises on merger agreement with Portman Ridge Finance

** Shares of business development company Logan Ridge Finance Corporation LRFC.O up 7.82% at $26.20 premarket

** LRFC enters merger agreement with Portman Ridge Finance Corporation PTMN.O

** Logan Ridge Finance Corporation shareholders to receive 1.50 PTMN shares per LRFC share

** Merger expected to be immediately accretive to companies' core net investment income

** Companies also expect merger to be completed in Q2 2025

** Say Sierra Crest Investment Management LLC, affiliate of BC Partners Advisors L.P, will manage combined entity

** LRFC stock gained ~10.53% in 2024

(Reporting by Subiksha S in Bangalore)

((Subiksha.S@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10